This agreement is an essential tool for anyone looking to sell or buy a property in Arizona, ensuring every detail of your deal is covered. Browse on to get started!
ARIZONA REAL ESTATE PURCHASE AGREEMENTTHIS REAL ESTATE PURCHASE AGREEMENT (the “Agreement”) entered into this [DATE] (the “Effective Date”), by and between [BUYER NAME] (the “Buyer”) and [SELLER NAME] (the “Seller”).
1. PROPERTY DESCRIPTIONSeller agrees to sell, and Buyer agrees to buy the property located at [ADDRESS], Arizona, including all fixtures and improvements thereon (the “Property”).
2. PURCHASE PRICEThe purchase price for the Property is [PURCHASE PRICE] Dollars ($[PURCHASE PRICE IN NUMBERS]), payable as follows:
3. EARNEST MONEYUpon execution of this Agreement, Buyer shall deposit with the Escrow Agent the sum of [EARNEST MONEY AMOUNT] Dollars ($[EARNEST MONEY AMOUNT IN NUMBERS]) as earnest money.
4. TITLE AND VESTINGTitle to the Property shall be conveyed to Buyer at Closing free and clear of all liens and encumbrances, except as otherwise provided in this Agreement.
5. CLOSING COSTSSeller and Buyer shall each pay their respective closing costs as customary in the state of Arizona.
6. CLOSING DATEThe closing date for the sale of the Property shall be on or before [CLOSING DATE], unless otherwise agreed to by the parties.
7. POSSESSIONSeller shall deliver possession of the Property to Buyer at Closing, free of all tenants and occupants.
8. CONTINGENCIESThis Agreement is contingent upon the following: Buyer obtaining a loan approval for the purchase of the Property, the Property appraising for at least the purchase price, and Buyer’s inspection and approval of the Property.
9. ARIZONA LAWThis Agreement shall be governed by and construed in accordance with the laws of the state of Arizona.
10. ENTIRE AGREEMENTThis Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, discussions, and agreements, if any, between the parties. EXECUTED as of the Effective Date. Buyer: __________________________ Date: ____________ [BUYER NAME] Seller: __________________________ Date: ____________ [SELLER NAME] THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT UNDERSTOOD, SEEK COMPETENT ADVICE BEFORE SIGNING. THIS FORM IS DESIGNED FOR USE BY REAL ESTATE PROFESSIONALS AND SHOULD NOT BE USED BY ANY OTHER PERSONS.
In addition to a Contract for Sale of Real Estate in Arizona, it’s beneficial to familiarize with a Contract for Deed Template as an alternative financing option. And if you are considering an investment property, a well-structured Contract for Rental Property is essential to protect both landlord and tenant rights.